Released Players
Released/waived players with guaranteed contracts continue to be included in their former team's payroll. Players whose contracts are not guaranteed are included in team salary in the amount they made while they were with the team. Players on non-guaranteed "summer contracts" are not included in team salary unless they make the regular season roster.
If another team signs a released player who had a guaranteed contract (as long as the player has cleared waivers), the player's original team is allowed to reduce the amount of money they still owe the player (and lower their team payroll) by the right of set-off. This is true if the player signs with any professional team—it does not even have to be an NBA team. The amount the original team gets to set off is limited to one-half the difference between the player's new salary and a pro-rated share of the minimum salary for a one-year veteran (if the player is a rookie, then the rookie minimum is used instead).
Read more about this topic: NBA Salary Cap
Famous quotes containing the words released and/or players:
“Washington has seldom seen so numerous, so industrious or so insidious a lobby. There is every evidence that money without limit is being spent to sustain this lobby.... I know that in this I am speaking for the members of the two houses, who would rejoice as much as I would to be released from this unbearable situation.”
—Woodrow Wilson (1856–1924)
“The whole idea of image is so confused. On the one hand, Madison Avenue is worried about the image of the players in a tennis tour. On the other hand, sports events are often sponsored by the makers of junk food, beer, and cigarettes. What’s the message when an athlete who works at keeping her body fit is sponsored by a sugar-filled snack that does more harm than good?”
—Martina Navratilova (b. 1956)